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Showing 301 - 310 of 568 results for "MySuper product"

AMP, CBA respond to record class action bid

JAMIE WILLIAMSON  |  WEDNESDAY, 12 SEP 2018
AMP and Commonwealth Bank have responded to Slater and Gordon's announcement of a potential class action which could see the two parties forced to repay more than $500 million that was unfairly deducted from superannuation fund accounts. Launching ...

Best-in-show super fund list should be 11: WSSA

KARREN VERGARA  |  TUESDAY, 11 SEP 2018
Workplace Super Specialists Australia is calling for employer funds to be included in the Productivity Commission's proposed best-in-show list of recommended default superannuation funds. WSSA chief executive Douglas Latto said if the Productivity Commission's ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... breached section 29WA of the SIS Act by not transitioning members properly to either a choice investment option or MySuper product on 21 February 2014. APRA reiterated its position "is and has always been" that CFS breached section 29WA and must rectify ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... recommendation to Commission Kenneth Hayne that Suncorp took steps to ensure clients would not be moved into the fund's MySuper product. It pointed out that such a transfer is not a matter of "flicking a switch." Given the complexity of the product offering ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... the Corporations Act with regards to three financial advisers moving clients to a choice product and out of a MySuper product. The advisers failed to provide a Statement of Advice and Financial Services Guide, and obtain clients' informed consent ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... 13,000 occasions after it was unable to determine if First Choice Personal Super members were transferred to a MySuper product before the deadline. Hodge said it was open to the Commissioner to find if CBA and its RSE Colonial First State Investments ...

SMSFs too conservative: Poll

KARREN VERGARA  |  MONDAY, 27 AUG 2018
More than half (54%) of the respondents in Financial Standard's latest spot poll believe self-managed super funds are too conservative when it comes to allocating assets. Only a third (33%) said they were content with the allocation strategies and will ...

APRA banned one person in 10 years: Royal Commission

HARRISON WORLEY  |  FRIDAY, 17 AUG 2018
... turned to a Colonial First State letter and call script dissuading superannuation fund members from moving to a MySuper product - which APRA found to be acceptable - Hodge became visibly irritated. Asked if the call script was - on its face - misleading ...

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
Colonial First State admitted to falling below community standards when it crafted poor communication to super fund members to dissuade them from moving to a cheaper default option. One financial adviser was banned in the process, the Royal Commission ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... Pankhurst also admitted ASIC has previously raised concerns that customers would confuse this product with ANZ's MySuper product of the same name. He said previous marketing collateral for the product wrongly labelled it as a MySuper option. Yesterday ...